The Common Man

Although Andrew Jackson received the majority vote from the "common man" in several elections, his presidency became one bent on destroying the elite's power over the nation. Through his war with the bank and destruction of party members within his cabinet, Andrew Jackson attempted to dethrone politicians born with silver spoons in their mouths. Jackson's actions brought an immediate satisfaction, but had no lasting effects. Andrew Jackson's presidency has been called the Era of the Common Man, but his hidden agenda laid with destroying the elite.

Andrew Jackson first developed his hatred for the bank when the Panic of 1819 hit America. The bank, being a federal venture, was required to pay back European debts. At the time, Jackson was harassed by the bank to repay his loans, as they were desperate to obtain money. A man easily angered, Jackson developed a discrimination towards banks that were not backed with 100% gold or silver, especially the Second Bank of America. When bank president Nicholas Biddle applied for the bank's re-charter in 1832, four years before its expiration, Jackson was forced to face his problem. The President did everything in his power to destroy the bank. He vetoed the charter that was backed by Henry Clay, a future presidential opponent. The public viewed Jackson's veto in great light and soon reelected him to office; Jackson's fight would be secured for the next four years.

Jackson soon did everything within his powers to destroy the bank. He replaced his Secretaries of Treasury, supporters for the bank, with a Jacksonian loyalist. Jackson's next step hit the Second Bank hard. The President had all federal funds withdrawn from the bank and relocated in seven state-chartered banks. This left Biddle in shock; he had lost his biggest contributor. Biddle thought of a way to force Jackson's hand. The bank called for all loans to be repaid instantly and made no new loans. This caused a recession in 1834 and its intended outcome was to make Jackson sign the re-charter. When Jackson received the re-charter, however, he vetoed it still. This action doomed the bank, as its charter would expire in the next two years. After the end of its charter, the bank became a state bank. Jackson's public